Quote:
Originally posted by DJ FC:
An example?
A broker (yes, she has her license) who sells all her stocks before the company tanks, then gets a couple months in a minimum security camp, sounds like your typical punishment to me.
She wasn't used as an example, the case just happened to be high-profile.
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The broker was the one with the insider info, I would venture to say the broker didn't tell her "Their newest drug didn't pass FDA testing, oh and you aren't supposed to know that." He probably just told her "Their newest drug didn't pass FDA testing." Most people assume their broker isn't trading on insider info. I don't know the exact legal liability one has on info from their broker, but morally what she did was reasonable.